Raymond James Financial, Inc. $RJF Stock Holdings Cut by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC reduced its stake in Raymond James Financial by 28.6%, now holding 304,090 shares valued at approximately $42.2 million.
• Raymond James Financial reported a Q2 EPS of $2.18, missing estimates by $0.18, while revenue was up 5.3% year-over-year to $3.40 billion.
• The company recently declared a quarterly dividend of $0.50 per share, with a yield of 1.2%, to be paid on October 15th.

Ceredex Value Advisors LLC lowered its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 28.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 304,090 shares of the financial services provider's stock after selling 121,671 shares during the quarter. Ceredex Value Advisors LLC owned 0.15% of Raymond James Financial worth $42,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the first quarter worth about $25,000. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial during the first quarter worth about $27,000. Golden State Wealth Management LLC lifted its stake in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new position in shares of Raymond James Financial during the first quarter worth about $33,000. Finally, TCTC Holdings LLC lifted its stake in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Performance

Shares of NYSE:RJF traded up $0.81 during trading on Friday, hitting $169.52. 843,298 shares of the company traded hands, compared to its average volume of 857,490. The stock has a market capitalization of $33.80 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.39 and a beta of 1.05. The business's fifty day moving average is $161.85 and its 200-day moving average is $150.09. Raymond James Financial, Inc. has a one year low of $113.91 and a one year high of $174.32. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $2.39 earnings per share. As a group, equities analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's dividend payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RJF shares. Wells Fargo & Company boosted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JMP Securities boosted their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.